Cyprus records best ever tourism income in July

Nicosia - Mediterranean holiday island Cyprus recorded its best ever monthly revenues from tourism in July, scooping more than $448m, official data showed Friday.

"It is the best month for tourism income ever recorded by the statistical service," said an official statement.

Tourism income in July reached €402.2m compared to €342.1m in the same month last year, registering a 17.6% increase.

For the first seven months of the year, revenue from tourism increased 14.9% to €1.23bn from €1.07bn in the same period of 2015.

Seen as a safe destination in a restive region, Cyprus is benefiting from an upsurge in arrivals, especially largest markets Britain and Russia, as well as a revival from Greece and Israel.

Tourist arrival figures hit records in the months of May, June, July and August, with an overall total record of three million plus visitors expected in 2016.

Tourism income on the holiday island last year reached €2.11bn, a 4.4% hike from 2014, and the sector's best earnings since 2001.

Cyprus exited a harsh bailout programme in March garnering praise from international lenders for its impressive turnaround.

Income from tourism accounts for around 12% of the EU state's GDP and is credited for ensuring that Nicosia made a relatively quick recovery.

Following a €10bn international rescue package to save a crumbling economy and insolvent banks in March 2013, Cyprus has returned to growth.

Holidaymakers to Cyprus numbered 2.69 million in 2001, spending €2.17bn, both records.

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